Business Decision Making Assignment Example | Topics and Well Written Essays - 3000 words - 2

Business Decision Making - Assignment Example In order to study the topic, a research is conducted on the coffee market of London to analyze the emerging market trends. This would help in presenting a report to the senior management for the introduction of a new coffee-based drink for coffee shop customers. As the product development coordinator of the coffee packaging company it is important that I should conduct primary research. This would help in determining the consumer profile, their preferences, attitudes and buying behaviors related to coffee. This information would be collected through survey questionnaires. The survey would be conducted on a random sample and not systemic one. Random sampling will allow the marketer to thoroughly analyze the consumer preference and behavior as everyone will have an equal chance of being selected (Winston, Stevens, Sherwood, & Dunn, 2013). On the contrary, random sampling might also generates some errors such as the sample might not be best suitable for the product, etc. Moreover there is no control in random sampling technique. It should be noted that all the data for the consumer profile, preference and buying behavior will be gathered with the help of primary research i.e. through survey questionnaires. After gathering the primary data and analyzing the consumer preferences etc. the data related to market will be collected and analyzed through secondary research. In the secondary research the data will be gathered with the help of studying market reports related to coffee drinks (Giovannucci & Koekoek, 2003). Furthermore, the secondary research will also identify and analyze some basic elements of coffee industry such as market competitiveness, which are the main competitors, what the market structure is, and how the shares of the coffee market are divided into the key players. All this will be studied with the help